*Puerto Rico bonds rise in secondary trade. NEW YORK, March 11- Puerto Rico on Tuesday sold $3.5 billion of junk-rated bonds at a surprisingly low tax-free interest rate under 9 percent, which was still high enough to tempt investors to snap up the bonds despite the Caribbean island's difficult cash position.» Read More
WASHINGTON, Feb 26- The $3.7 trillion U.S. municipal bond market has been stunned by what would have been unthinkable a few months ago: Puerto Rico debt is rallying. Most notably, the three rating agencies cut Puerto Rico's credit score to junk earlier this month.
Under new rules for measuring Daimler's performance in 2014, Renault SA and Fiat SpA would drop out because their credit rating is below investment grade, and Volvo Cars would be excluded because it is unlisted, it said.
Puerto Rico plans to issue about $2.86 billion in general obligation bonds in March, the Government Development Bank said on Tuesday.
NEW YORK, Feb 11- Fitch on Tuesday became the third credit rating agency in a week to downgrade Puerto Rico to junk, citing worries about the cash-strapped U.S. territory's weak economy and reduced ability to finance itself in capital markets. Puerto Rico has some $70 billion of debt outstanding and has long struggled with a shrinking economy and population.
NEW YORK, Feb 11- Fitch Ratings cut Puerto Rico's credit rating to junk on Tuesday, the third major ratings agency in a week to downgrade the U.S. territory, citing fears of reduced access to capital markets. Moody's and Standard& Poor's cut Puerto Rico's rating to junk last week.
SAN JUAN, Puerto Rico, Feb 10- Puerto Rico Gov. Moody's Investors Service last week lowered the commonwealth's credit rating to junk status and also cut the rating on the Cofina debt because of worries about the island's shrinking economy and population.
NEW YORK, Feb 10- Moody's Investors Service confirmed on Monday it had cut the rating of the Puerto Rico Electric Power Authority to junk status, saying the island's shrinking economy and population will hurt the already cash-strapped authority's ability to invest.
NEW YORK, Feb 7- Moody's Investors Service on Friday became the second ratings agency this week to cut Puerto Rico's credit rating to junk, citing concern about the cash-strapped U.S. territory's weak economy and its ability to borrow.
Feb 4- Standard& Poor's on Tuesday cut its credit rating on Puerto Rico, dropping the cash-strapped U.S. territory's debt to junk-bond status on concerns about its ability to access capital markets. Puerto Rico is one of the $3.7 trillion municipal bond market's biggest issuers, with some $70 billion of bonds outstanding.
NEW YORK, Feb 4- Standard& Poor's on Tuesday cut its credit rating on Puerto Rico, dropping the cash-strapped U.S. territory's debt to junk-bond status on concerns about its ability to access capital markets.
Feb 4- Standard& Poor's on Tuesday cut its credit rating on Puerto Rico, dropping the cash-strapped U.S. territory's debt to junk-bond status on concerns about its ability to access capital markets.
Feb 4- Standard& Poor's on Tuesday cut its credit rating on Puerto Rico, dropping the cash-strapped U.S. territory's debt to junk-bond status on concern about its ability to access capital markets. S&P, which had placed Puerto Rico's rating on notice for a downgrade last month, said it now rates the Caribbean commonwealth at "BB+," one level below investment grade.
SAN JUAN, Jan 28- Puerto Rico finance officials trying to avoid junk bond ratings for the Caribbean island are emphasizing recent tax hikes, spending cuts and other fiscal reforms in meetings with U.S. credit agencies, Puerto Rico's governor said on Tuesday.
TOKYO, Jan 27- Moody's Investors Service cut Sony Corp's debt rating to junk status on Monday, highlighting challenges in its television and PC businesses and pressure on profitability at its entire core consumer electronics operation.
Puerto Rico is in a struggle to borrow money—and it has to do it quickly if it wants to keep ratings agencies happy.
DUBLIN, Jan 17- Moody's Investors Service upgraded Ireland to investment grade on Friday, handing the government a major post-bailout boost and opening its already sought-after debt to investors prohibited from buying junk-rated paper.
Moody's announces its decision on Portugal's credit standing later on Friday under a new EU-regulated schedule of rating reviews. Standard& Poor's will release its assessment on Portugal on Jan. 17 and while many market participants say an upgrade of Portugal's "junk" status was unlikely, they expected both Moody's and S&P to raise their outlooks.
Jeff Peskind, Phoenix Investment Adviser, says if you need income, junk bonds have the lowest interest rate sensitivity of any bond class.
LONDON, Dec 6- Crowded junk corporate bond markets may be most vulnerable to what could be the main outlying risk of 2014: a Federal Reserve that is slow to withdraw monetary stimulus and forced to play catch-up.
SYDNEY, Dec 6- Australia's prime minister Tony Abbott spurned a plea for help from Qantas Airways Ltd on Friday, saying subsidising the embattled airline would be "a bottomless pit" as its credit rating was relegated to junk status.